Angola

Country Programme Document

Country Programme Document for Angola (2009 - 2013)

Introduction

This CPD was developed in close consultations with the government and other development partners, and on the basis of the conclusion of programme reviews. It intends to contribute to the achievement of the objectives of the Government’s Medium Term Development Plan (2009-2013).

Part I. Situation analysis

Angola has experienced a remarkable recovery six year after the 27-year civil war that devastated the human, economic and physical capital of the human, economic and physical capital of the country as well as its social and institutional fabric. The restoration of peace, political and socio-economic stability is a reality in Angola and is showing some dividend. Since 2002, the country has achieved an unprecedented economic performance fuelled by expanded oil production and increasing oil revenues. Two digit annual growth rates, reaching a rate of 24,4% in 2007, have been achieved, except in 2003. Inflation dropped from 106% in 2002 to 11,78% in 2007.

The economic outlook remains favorable as a result of the country’s large strategic natural resources, namely, the estimated 5.4 billion barrels oil reserves and diamond mines. The growth rate is, however, expected to slow down by 2009, due to the OPEC quota limitation of 1, 9 million barrel/day that Angola already reached in December 2007.

English version